1. Field of the Disclosure
The present disclosure relates to the exchange of a rental item between an owner and borrower, and more particularly, enabling a rental transaction between the owner and the borrower by exchanging codes among the owner, the borrower and a central controller.
2. Background Information
Current technologies allow consumers to borrow, rent and purchase goods from other consumers. Internet websites enable property owners to list property for exchange, rental or purchase such that they may reach a population of likeminded consumers. Consumers wishing to exchange goods or rent or buy goods from the property owners may view listings and choose to contract with a particular property owner. Once the consumer has contacted the particular property owner and entered into an agreement regarding the terms of the exchange, rental or purchase, the involvement of the Internet website ceases.
That is, there are no procedures to ensure that the borrower receives the correct good or goods, that the good is in an acceptable condition, that the good is returned to the owner and that the good is returned in a condition acceptable to the owner. Additionally, these technologies do not include procedures for dealing with failure to return a good or damage to the returned good that are specific to the good being exchanged, rented or purchased.